Do slot payout %\'s vary with the bet amount?
 

My parents have a slot habit I've been slowly trying to wean them off of [img]/images/graemlins/tongue.gif[/img] In the meantime, however, I'd rather they at least play optimally.

Say a machine is advertised as a 95% payout. Betting 1 coin, the max jackpot is 500, 2 coins = 1000, but 3 coins (max) has a jackpot of 5,000. I understand a good chunk of the payout percentage comes from hitting the jackpot, so does this mean that betting less than the max results in lower EV?

Re: Do slot payout %\'s vary with the bet amount?
 

I believe so. Especially in machines with progressive royal payouts for the max bet, I will avoid them unless I am willing to play the max. Oftentimes these progressives will give you crappy returns on the smaller hands (full house, 4 of a kind, etc), which makes it even less worthwhile, unless you're playing for the max.

Re: Do slot payout %\'s vary with the bet amount?
 

the problem with any slot machine (vs. video poker as mingo explained) is that you have NO idea what the mathematical probability of hitting any particular payout line is. so while your NET return percentage may be slightly higher paying max coins, the GROSS amount of theoretical loss accumulated with a higher average bet may not necessarily justify it.

for example, you have a $1 slot machine that pays 95% for a single coin bet, but 96% for a 3 coin max bet. 500 spins an hour, you're wagering $500 and "losing" $25 an hour. max coin, you're wagering $1500 and now losing $60 an hour. playing "optimally" on slots in this case is meaningless since you're still playing a negative expectation game in the first place.

there really is just one rule when it comes to playing slots. HAVE FUN. because lord knows you're paying out the ass for it.

Re: Do slot payout %\'s vary with the bet amount?
 

Correct. Slots are the devil. But they are what makes it possible for Casinos to flourish.